Image: QualityNet CEO Mohammed Nizar Al-Nusif
Batelco has announced it has signed a Share Purchase Agreement (SPA) to sell its 90% shareholding of Kuwait subsidiary QualityNet to Kuwait Telecommunications Company (better known as VIVA Kuwait).
The price consideration will be determined upon completion of the full transfer of shares and fulfilment of the terms, conditions and covenants agreed between the parties in the SPA. Moreover, QualityNet’s shares will be transferred to VIVA after obtaining the necessary regulatory approvals.
QualityNet CEO Mohammed Nizar Al-Nusif was on the cover of the March 2019 edition of CommsMEA.
The news comes on the same day the Telecommunications Regulatory Authority (TRA) of Bahrain announced it had entered the final consultation stage of Batelco separating into different entities.